Ann: Lady Fanny IP Survey Lights Up Strong Chargeability Targets, page-108

I followed the minute by minute trades today om my trading platform and what was apparent during the progressive price decline was that the price would steady for a while, in fact recover some upwards pips, then in would come a largish sell order taking us down to the next level. This repeatedly happened as the price moved down in step-wise fashion. This is not Mum and Dad ( retail) investors or traders, the sell volumes that came in ( off-screen) suggests were sufficiently large to suggest it is entities holding a decent size swag of shares progressively unloading. Totally disconnected to the positive announcement out today with the prospect of great things to look forward to. My considered guess is that it is some largish placement holders who could not give a monkeys about the company's forward potential or give any credence to positive announcements . I simply cannot for the life of me see another reason on the back of the announcement today. This sell down has been underway for days now, with or without news. I'm sure management would be rather dismayed but would never admit to that ....... its a salutory lesson. With today's announcement, it is not a case of buy the rumour, sell the fact. It seems more a a case of unloading discounted shares. Their ammo will eventually run out. Future CR's for exploration will likely involve a lower issuance of shares and hopefully be offered as SPP's to existing shareholders